Bulgarian Property Sales on the Rise

A Place in the Sun

Bulgarian property sales are on the rise, especially in coastal areas, giving credence to the rumours of recovery in the country's property market.

According to agents Bulgarian Properties, sales of beach properties have risen by 30 per cent in the last year.

"This segment of the market has started to recover driven by interest from Russian buyers to purchase their own holiday apartment in a warm and sunny place like Bulgaria," commented a spokesperson.

"The number of apartments sold in the third quarter increased by about 30 per cent year-on-year, while the interest was focused mainly along the Southern Black Sea coast, not only in Sunny Beach but also in Pomorie, and also in Ahtopol, Sozopol, Lozenets and other resorts."

The company's research also revealed that sales of rural houses rose by 40 per cent in the third quarter compared to 2011, while ski resorts such as Bansko are also showing increasing signs of popularity – especially as prices have fallen dramatically. In fact, Bulgarian Properties believe that Bansko is now the cheapest holiday market in Europe, with prices for prime ski property hitting as low as €300 per square metre.

"Adequate pricing of properties based on their characteristics will continue to mean a successful and fast sale, and buyers will continue searching for quality properties at bargain prices in 2013," the company added.